Janney Montgomery Scott LLC Lowers Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Janney Montgomery Scott LLC trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) by 65.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,225 shares of the casino operator’s stock after selling 23,060 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Wynn Resorts were worth $771,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sierra Capital LLC purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth $28,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth $28,000. Crewe Advisors LLC lifted its holdings in shares of Wynn Resorts by 68.0% in the 2nd quarter. Crewe Advisors LLC now owns 504 shares of the casino operator’s stock worth $29,000 after buying an additional 204 shares during the period. O Dell Group LLC lifted its stake in shares of Wynn Resorts by 58.3% during the 2nd quarter. O Dell Group LLC now owns 527 shares of the casino operator’s stock worth $30,000 after purchasing an additional 194 shares during the last quarter. Finally, Tsfg LLC purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth $39,000. 70.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America upped their price objective on Wynn Resorts from $85.00 to $90.00 in a research note on Wednesday, January 4th. Citigroup upped their price objective on Wynn Resorts from $87.50 to $91.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Morgan Stanley upped their price objective on Wynn Resorts from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Monday, September 26th. Finally, StockNews.com upgraded Wynn Resorts to a “sell” rating in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $99.69.

Insider Activity

In other news, Director Betsy S. Atkins sold 5,707 shares of the stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $83.65, for a total value of $477,390.55. Following the transaction, the director now directly owns 6,690 shares of the company’s stock, valued at $559,618.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $98.93 on Friday. The business’s 50-day moving average is $85.09 and its 200 day moving average is $70.41. Wynn Resorts, Limited has a 1 year low of $50.20 and a 1 year high of $100.39. The firm has a market capitalization of $11.21 billion, a P/E ratio of -17.86 and a beta of 1.92.

Wynn Resorts (NASDAQ:WYNNGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.20). The firm had revenue of $889.70 million during the quarter, compared to analyst estimates of $867.42 million. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.24) earnings per share. On average, analysts expect that Wynn Resorts, Limited will post -4.5 EPS for the current year.

Wynn Resorts Profile

(Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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